Summary
Overview
Work History
Education
Skills
Skills
Accomplishments
Timeline
Generic

Gashaw Woldehanna, MBA, CPA, CGFM

Burtonsville,MD

Summary

Results-driven financial management leader with extensive experience overseeing full-spectrum financial operations for large government agencies with an annual budget of $400 million. Expert in managing the financial functions of 38 District agencies within the Government Operations Cluster (GOC), ensuring strict compliance with financial policies, regulations, and accounting standards. Proven track record in designing and implementing internal controls to safeguard resources, mitigate fraud, and enhance accuracy. Skilled in audit coordination, financial closing processes, and timely reporting. Adept in capital project management, federal grant compliance, and applying GASB standards. Effective communicator and trainer, committed to developing staff capabilities and improving operational efficiency.

Overview

20
20
years of professional experience

Work History

Cluster Controller, Government Operations Cluster

DC Government
Washington, DC
06.2019 - Current
  • Manage the accounting and financial reporting functions for 38 district agencies within the Government Operations Cluster (GOC).
  • Oversee the periodic financial closing processes for GOC agencies, ensuring compliance with District financial policies and procedures.
  • Coordinate and facilitate internal and external audit processes.
  • Ensure GOC financial operations adhere to applicable laws, regulations, policies, and government accounting standards.
  • Design, implement, and enforce internal controls to safeguard District resources, prevent reporting errors, and mitigate the risk of fraud.
  • Regularly assess and optimize internal controls for operational efficiency and effectiveness.
  • Review and finalize periodic financial statements, coordinating with external and internal auditors for audit purposes.
  • Enforce district financial policies and procedures across all GOC financial operations.
  • Interpret and implement new Governmental Accounting Standards Board (GASB) standards to ensure ongoing compliance.
  • Oversee the Payables division for 38 agencies, ensuring timely and accurate disbursements to suppliers in line with District policy, after thorough review and approval of payment requests.
  • Manage physical inventory count and reporting process
  • Oversee capital project setup, expenditure classification, Capital Improvement Plan (CIP), and capital asset reporting.
  • Ensure compliance with federal grant regulations and reporting requirements for GOC.
  • Develop and deliver training workshops, and provide technical support to staff and managers.
  • Review and approve exception payment requests (e.g., miscellaneous payments).
  • Validate and ensure the accurate submission of financial data to external stakeholders, including grantors, federal agencies, and auditors.
  • Review trial balances, financial statements, and related reports to identify and address anomalies, irregularities, and inconsistencies prior to final submission or publication.
  • Design and implement new financial processes, or enhance existing ones, to address control gaps and findings identified by external audits.

Accounting Officer

DC Government
Washington, DC
06.2015 - 05.2019
  • Analyzed financial activities in order to identify trends or potential problems.
  • Supervise and manage accounting team, overseeing daily operations to maintain the general ledger (GL).
  • Provide ongoing guidance and support to accountants, ensuring adherence to financial policies and procedures.
  • Review and post journal entries in the SOAR System, ensuring accuracy and compliance.
  • Review and approve financial analyses, statements, and reconciliations prepared by accounting staff.
  • Coordinate monthly, quarterly, and annual closing activities to ensure timely and accurate financial reporting.
  • Conduct workload analysis and assign responsibilities to accounting team members.
  • Develop training materials, desk procedures, and checklists to support accountants' efficiency and effectiveness.
  • Review financial reports and GL to identify, investigate, and resolve discrepancies.
  • Serve as the primary point of contact for audit inquiries, ensuring compliance and thorough documentation.
  • Enforce compliance with financial policies, procedures, and internal controls, including segregation of duties.
  • Implement process improvements based on audit recommendations and best practices.
  • Supervise, direct, and review the performance of accounting staff, fostering a high-performing team.
  • Oversee bank reconciliations, payroll posting, accounts receivable, fixed assets, revenues, and expenditures.

Senior Accountant

DC-Government Operations Cluster
Washington, DC
09.2011 - 05.2015
  • Accurately code and record all business transactions in a timely manner, ensuring proper accounting classifications.
  • Prepared monthly financial reports for management review.
  • Analyzed general ledger accounts for accuracy and completeness on a regular basis.
  • Perform project billing, resolve discrepancies, and prepare necessary adjusting journal entries.
  • Review agency reports daily, including Grants, Intra-District projects, payroll defaults, and accruals, resolving any discrepancies.
  • Ensure recipient agencies comply with applicable laws, regulations, and terms of contracts and grant agreements.
  • Process Federal Grant Drawdowns through the ASAP System and reconcile grant revenue between ASAP and SOAR systems.
  • Prepare Schedule of Expenditures of Federal Awards (SEFA) for each grant/CFDA# and complete the Cash Management Improvement Act (CMIA) report per Treasury-State agreement.
  • Perform grant match calculations and indirect cost assessments to ensure compliance with Federal requirements.
  • Prepare and submit Federal Financial Reports (FFR/SF-425) on a quarterly basis.
  • Provide audit support for A-133 (Single Audit) and other audits of Federal Awards and financial operations.
  • Record and report capital assets purchased with grant and capital funds, ensuring proper documentation and compliance.
  • Strengthen internal controls to ensure Federal awards are managed in compliance with relevant laws, regulations, and grant agreements.
  • Monitor compliance with key Federal requirements, including allowable costs, eligibility, cash management, sub-recipient monitoring, and reporting.
  • Test compliance with regulations such as the Davis-Bacon Act, property acquisition, matching funds, earmarking, and program income.
  • Participate in process improvements, and assist in drafting policies and procedures to enhance operational efficiency.
  • Close agency books, document accounting transactions, and provide timely reporting to management.

Finance Contractor

The University of the District of Columbia
Washington DC, DC
09.2008 - 05.2011
  • Prepared daily journal entries in SOAR for a wide range of financial transactions, ensuring accuracy and sufficiency of supporting documents.
  • Reviewed and ensured proper use of SOAR chart of account elements and GL accounts.
  • Assisted in the preparation of financial statements for UDC in accordance with GAAP, GASB, and higher education accounting standards.
  • Prepared UDC's notes to the financial statements and Management Discussion and Analysis (MD&A).
  • Reconciled UDC’s cash, accounts receivable, investments, and other general ledger accounts to ensure accuracy.
  • Ensured grant compliance with OMB Circulars A-110, A-21, A-122, and A-133, applying federal standards for higher education institutions and non-profits.
  • Recorded revenues and expenditures in SOAR, ensuring the correct GL accounts were used in compliance with policies.
  • Generated and analyzed EIS and CFO Solve reports, leveraging Excel pivot tables for in-depth data analysis.
  • Assisted with special projects, offering recommendations for resolving accounting issues, and improving processes.
  • Conducted an analysis of investments, cash, allowances, prepayments, and accruals for financial reporting.
  • Prepared aging analysis for accounts receivable, including related allowances for bad debt.
  • Supported the finance team with complex operating issues, systems troubleshooting, and analysis of unusual events.
  • Analyzed and reviewed UDC’s obligations and disbursements for accuracy and compliance with financial policies.
  • Filed hard and electronic copies of journal entries, supporting documents, and accounting records for proper documentation.
  • Reconciled grant transactions and performed project billing in accordance with grant terms and reporting requirements.
  • Prepared reclassifications and adjustments to ensure proper financial reporting.
  • Compiled and prepared UDC fund financial statements from SOAR trial balance reports (DAFRG100).

Senior Accountant I

Maru Metal Industry PLC
08.2006 - 11.2007
  • Perform end-to-end accounting.
  • Maintained accounting records, including job cost sheets, for accurate financial tracking.
  • Prepared and analyzed financial reports, including cost, variance, and trend analysis.
  • Reviewed cost data, identified trends and deviations, and recommended improvements.
  • Delivered financial and cost analyses, providing key insights and recommendations to management.
  • Analyzed material and overhead costs, suggesting controls for better cost efficiency.
  • Developed financial projections and pro forma statements to support decision-making.
  • Contributed to internal accounting controls, ensuring compliance, and operational efficiency.
  • Applied capital budgeting to assess investment proposals and financial viability.
  • Reconciled subsidiary and general ledger accounts for accuracy.
  • Participated in implementing automated accounting systems and procedural improvements.
  • Assisted in designing internal controls and process improvements to optimize financial management.
  • Supported the preparation of the company’s master budget and forecasts.
  • Performed cost allocations across departments and jobs, ensuring accurate reporting.

Junior Accountant

Maru Metal Industry PLC.
08.2005 - 08.2006
  • Managed full-cycle general record-keeping and maintained company accounts, preparing monthly, quarterly, annual, and special-purpose financial reports.
  • Prepared and reconciled bank statements, ensuring accuracy and compliance.
  • Valued, recorded, and managed accounts receivable, optimizing cash flow.
  • Reconciled interdepartmental and general ledger accounts, ensuring consistency across financial records.
  • Processed employee payroll, ensuring accurate verification of income tax, and withholding tax.
  • Oversaw petty cash transactions, including setup, replenishment, and adjustments.
  • Assisted in the design, implementation, and control of inventory purchase, recording, and requisition processes.
  • Analyzed receivable aging, assessed credit risk, and evaluated company credit policies to improve collections.
  • Prepared accurate financial statements in compliance with accounting standards.

Education

M.B.A - Accounting and Finance

MUM.EDU
2012

CPA - Certified Public Accountant -

District of Columbia
11-2011

B.A - Accounting

Debub University
2005

CGFM - Certified Government Finance Manager - CGFM

Government Finance Officers Association
Virginia

Skills

  • Leadership and Strategic Guidance
  • Full-Cycle Accounting Management
  • Chart of Accounts & General Ledger Maintenance
  • Financial Statement Preparation & Analysis
  • Internal Control Design & Implementation
  • Financial Data Analysis and Reporting
  • Audit Coordination & Support
  • Policy Development and Procedural Implementation
  • Grant Management, Reporting, and Compliance
  • Process Optimization & Continuous Improvement
  • Supplier Relationship Management and Disbursements
  • Periodic Financial Close & Reporting

Skills



Accounting and Financial Reporing Experience in various industries(Private, Public, Governmental, NGO) , A/R, A/P, GL, Payroll, Capital Assets, Financial data analysis, Financial Statements, Reporting, Grants/Contracts Management and compliance. Financial Systems and reporting tools experience in ORACLE, SOAR, CFO Solve, Peoplesoft, Peachtree, Quickbooks, Banner, cognos.

Accomplishments

  • Spearheaded the implementation of automated solutions within the Government Operations Cluster (GOC), including Paymentus Payment Processing System, EZ_Lease Lease Accounting System, Seamless Docs Payment Processing Workflow, enhancing operational efficiency.
  • Achieved an average of 96% compliance with Quick Payment Act (QPA) for all supplier payments, ensuring consistent adherence to financial standards.
  • Successfully maintained unqualified or clean audit opinions or outcomes for agencies and programs under my oversight for consecutive years.
  • Led the seamless implementation of complex GASB 87 and GASB 96 standards, ensuring full compliance with evolving accounting regulations.
  • Managed the successful transition of unique GOC business processes to the District's Integrated Financial System (DIFS), improving system integration and operational workflows.
  • Consistently met quarterly and annual close deadlines, ensuring the timely and accurate closure of financial books with the highest level of precision.

Timeline

Cluster Controller, Government Operations Cluster

DC Government
06.2019 - Current

Accounting Officer

DC Government
06.2015 - 05.2019

Senior Accountant

DC-Government Operations Cluster
09.2011 - 05.2015

Finance Contractor

The University of the District of Columbia
09.2008 - 05.2011

Senior Accountant I

Maru Metal Industry PLC
08.2006 - 11.2007

Junior Accountant

Maru Metal Industry PLC.
08.2005 - 08.2006

B.A - Accounting

Debub University

M.B.A - Accounting and Finance

MUM.EDU

CPA - Certified Public Accountant -

District of Columbia

CGFM - Certified Government Finance Manager - CGFM

Government Finance Officers Association

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Gashaw Woldehanna, MBA, CPA, CGFM